Texas Property Code
§ 240.0081 — NOTICE REQUIRED BY TRUSTEE DISCLAIMING CERTAIN INTERESTS IN PROPERTY; EFFECT OF NOTICE
PR § 240.0081Title 13. DISCLAIMER OF PROPERTY INTERESTS · Ch. 240. TEXAS UNIFORM DISCLAIMER OF PROPERTY INTERESTS ACT · Art. A. GENERAL PROVISIONS
Statute text
View on source(a)A trustee acting in a fiduciary capacity may disclaim an interest in property that would cause the interest in property not to become trust property without court approval if the trustee provides written notice of the disclaimer to all of the current beneficiaries and presumptive remainder beneficiaries of the trust.
(b)For the purpose of determining who is a current beneficiary or presumptive remainder beneficiary entitled to the notice under Subsection (a), a beneficiary is determined as of the date the notice is sent.
(c)Except as provided by Subsection (e-1), in addition to the notice required under Subsection (a), the trustee shall give written notice of the trustee's disclaimer to the attorney general if:
(1)a charity is entitled to notice;
(2)a charity entitled to notice is no longer in existence;
(3)the trustee has the authority to distribute trust assets to one or more charities that are not named in the trust instrument; or
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Legislative history
Acts 2017, 85th Leg., R.S., Ch. 62 (S.B. 617), Sec. 16, eff. September 1, 2017.